CNB Bank Trims Stock Holdings in Crown Castle Inc. (NYSE:CCI)

CNB Bank lessened its holdings in shares of Crown Castle Inc. (NYSE:CCI) by 19.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,130 shares of the real estate investment trust’s stock after selling 746 shares during the period. CNB Bank’s holdings in Crown Castle were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of CCI. Catalyst Capital Advisors LLC bought a new stake in Crown Castle during the third quarter worth about $25,000. Rosenberg Matthew Hamilton lifted its holdings in shares of Crown Castle by 107.9% during the third quarter. Rosenberg Matthew Hamilton now owns 262 shares of the real estate investment trust’s stock valued at $31,000 after purchasing an additional 136 shares during the last quarter. FNY Investment Advisers LLC boosted its position in shares of Crown Castle by 300.0% in the 4th quarter. FNY Investment Advisers LLC now owns 400 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 300 shares in the last quarter. Quest Partners LLC grew its stake in shares of Crown Castle by 3,672.7% in the 2nd quarter. Quest Partners LLC now owns 415 shares of the real estate investment trust’s stock worth $41,000 after buying an additional 404 shares during the last quarter. Finally, Harbor Capital Advisors Inc. bought a new position in Crown Castle during the 3rd quarter valued at approximately $47,000. 90.77% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

CCI has been the topic of several analyst reports. The Goldman Sachs Group boosted their target price on Crown Castle from $105.00 to $120.00 and gave the stock a “neutral” rating in a report on Thursday, September 26th. Citigroup set a $128.00 price target on shares of Crown Castle in a research note on Thursday, October 17th. Barclays upgraded shares of Crown Castle from an “equal weight” rating to an “overweight” rating and reduced their price objective for the company from $117.00 to $104.00 in a research note on Monday. Wells Fargo & Company downgraded shares of Crown Castle from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $105.00 to $100.00 in a research note on Tuesday, December 10th. Finally, Jefferies Financial Group downgraded shares of Crown Castle from a “buy” rating to a “hold” rating and reduced their price target for the company from $127.00 to $84.00 in a research report on Thursday, January 2nd. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $113.00.

Crown Castle Stock Performance

NYSE CCI opened at $91.14 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.54 and a debt-to-equity ratio of 4.43. Crown Castle Inc. has a twelve month low of $84.20 and a twelve month high of $120.92. The business has a 50-day moving average price of $97.23 and a 200-day moving average price of $105.67. The firm has a market cap of $39.61 billion, a price-to-earnings ratio of 32.39 and a beta of 0.87.

Crown Castle (NYSE:CCI) last announced its quarterly earnings data on Wednesday, October 16th. The real estate investment trust reported $0.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.73 by ($1.03). The company had revenue of $1.65 billion for the quarter, compared to analysts’ expectations of $1.64 billion. Crown Castle had a net margin of 18.59% and a return on equity of 20.98%. The company’s quarterly revenue was down .9% compared to the same quarter last year. During the same period last year, the business earned $1.77 earnings per share. As a group, equities research analysts predict that Crown Castle Inc. will post 6.67 EPS for the current fiscal year.

Crown Castle Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Investors of record on Friday, December 13th were paid a dividend of $1.565 per share. The ex-dividend date of this dividend was Friday, December 13th. This represents a $6.26 annualized dividend and a yield of 6.87%. Crown Castle’s payout ratio is 221.99%.

About Crown Castle

Crown Castle owns, operates and leases more than 40,000 cell towers and approximately 90,000 route miles of fiber supporting small cells and fiber solutions across every major U.S. market. This nationwide portfolio of communications infrastructure connects cities and communities to essential data, technology and wireless service – bringing information, ideas and innovations to the people and businesses that need them.